Business Development Incentive Bonus Sample Clauses
The Business Development Incentive Bonus clause establishes a financial reward for employees or agents who achieve specific business growth targets or secure new clients. Typically, this clause outlines the criteria for earning the bonus, such as meeting sales quotas, closing deals, or expanding into new markets, and details the calculation and timing of bonus payments. Its core function is to motivate individuals to actively pursue and deliver measurable business development results, thereby aligning their efforts with the organization's growth objectives.
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Business Development Incentive Bonus. If during the Term, (a) ------------------------------------
(i) the Board of Directors of the Company requests ▇▇▇▇▇▇▇▇'▇ assistance in completing a sale of the Company, or (ii) the Board of Directors or the Chief Executive Officer of the Company requests ▇▇▇▇▇▇▇▇'▇ assistance in completing a sale of any business unit of the Company or the acquisition of any other business, and (b) ▇▇▇▇▇▇▇▇ actively participates in the negotiations leading to the completion of such sale or acquisition as one of the Company's principal representatives, the Company shall pay to Executive, concurrently with the closing of any such sale or acquisition, a fee equal to the lesser of (aa) $250,000, or (bb) 1% of the consideration paid or received by the Company or its shareholders in such sale or acquisition transaction; provided, however, that the fee shall be reduced to .5% of the sale or acquisition consideration if the Company is obligated to pay a success fee to any investment banker or business broker in connection with such transaction.